A thread to keep track of the obama administration paying off his buddies & campaign bundlers...
A rendering of the anticipated manufacturing facility that ECOtality will establish in Tianjin, China.
$100 Mil Stimulus Green Company Obama Praised in State of the Union Address Goes Bankrupt
August 13, 2013 By Daniel Greenfield
The Ecotality case wasnt the biggest payoff, but it was particularly outrageous because it got stimulus money when it was already under SEC investigation.
The company received a subpoena from the Securities and Exchange Commission in October of 2010.
The president of Ecotality North America Don Karner was sent an additional subpoena in December of 2011, which specifically asks for any and all documentation surrounding the public announcement of the first Department of Energy grant to the company for $99.8 million on August 5, 2009.
Ecotality was awarded $99 million in 2009 and an additional $26 million in October 2011. Since the beginning of the grant period in October 2009 the company reported creating 144 jobs according to Recovery.gov .
So 100 million and 144 jobs. Not that those jobs will last because the money is already headed to bankruptcy. There would be more jobs in Obama-masked rodeo clowns.
...
But theres more good news.
The company continued receiving federal funds even as it came under federal investigation for insider trading. Last weeks SEC filing revealed that it has also been under investigation by the Department of Labor for alleged violations of the Fair Labor Standards Act and the Davis-Bacon Act.
But dont cry for Ecotality. Itll be back. Just look at who it brought on board.
Observers say the companys business model is explicitly geared towards currying political favor in an effort to obtain taxpayer funds. It recently elected former Energy Secretary Steven Chus chief of staff to its board.
$100 Mil Stimulus Green Company Obama Praised in State of the Union Address Goes Bankrupt | FrontPage Magazine
A rendering of the anticipated manufacturing facility that ECOtality will establish in Tianjin, China.
$100 Mil Stimulus Green Company Obama Praised in State of the Union Address Goes Bankrupt
August 13, 2013 By Daniel Greenfield
The Ecotality case wasnt the biggest payoff, but it was particularly outrageous because it got stimulus money when it was already under SEC investigation.
The company received a subpoena from the Securities and Exchange Commission in October of 2010.
The president of Ecotality North America Don Karner was sent an additional subpoena in December of 2011, which specifically asks for any and all documentation surrounding the public announcement of the first Department of Energy grant to the company for $99.8 million on August 5, 2009.
Ecotality was awarded $99 million in 2009 and an additional $26 million in October 2011. Since the beginning of the grant period in October 2009 the company reported creating 144 jobs according to Recovery.gov .
So 100 million and 144 jobs. Not that those jobs will last because the money is already headed to bankruptcy. There would be more jobs in Obama-masked rodeo clowns.
...
But theres more good news.
The company continued receiving federal funds even as it came under federal investigation for insider trading. Last weeks SEC filing revealed that it has also been under investigation by the Department of Labor for alleged violations of the Fair Labor Standards Act and the Davis-Bacon Act.
But dont cry for Ecotality. Itll be back. Just look at who it brought on board.
Observers say the companys business model is explicitly geared towards currying political favor in an effort to obtain taxpayer funds. It recently elected former Energy Secretary Steven Chus chief of staff to its board.
$100 Mil Stimulus Green Company Obama Praised in State of the Union Address Goes Bankrupt | FrontPage Magazine
